Poughkeepsie Journal from Poughkeepsie, New York on July 12, 1989 · Page 11A
Get access to this page with a Free Trial

A Publisher Extra Newspaper

Poughkeepsie Journal from Poughkeepsie, New York · Page 11A

Publication:
Location:
Poughkeepsie, New York
Issue Date:
Wednesday, July 12, 1989
Page:
Page 11A
Start Free Trial
Cancel

A. - .",' - IF' v YJ&isw: f fW'' M "n - v - , ' 3 Page 11 A Wednesday jrjty 12, 1989 Itoiiflfrhwpate Journal Business TUESDAY'S CLOSE r Dow 2514.61 S&P 500 328.78 NYSE 183.62 Amex 366.03 Wilshlre 3.231.738 Gold $379 IBM 113 11.95 1.71 Q.92 - 1.59, 15.32: $3.50' - - . Big Bother has your number - and shopping list By Lena II. Sun Tkc Washington Post if - you've ever opened a bank account filed a health - insurance claim or filled out a prod uct - registration form, you ve contributed to oni.of a number of computer databases con taining sensitive information about millions of Americans. Privacy experts say most probably are un aware of the vast amounts of personal infor mation that is kept on them in the private andpublic sector and how easily it can be bought and sold by companies that use the information lor everything from direct - mail marketing to credit checks. tjji the last 10 or 20 years, we have seen a tremendous increase in the kinds and amount of personal, sensitive Information collected by the private sector and the government," said Janlori Goldman, a staff attorney on the American Civil Liberties Union's project on privacy and technology. "It is now commonplace for people to give over a great deal of information in return for receiving every day goods and services, add that information is used by retailers, the marketing companies, by the government, in ways not anticipated and not intended bj the consumer." Companies that provide central ized credit - checking services have vast amounts of Information about individuals and their spouses, typicaljy including names, Social Security numbers, addresses, telephone numbers, employment and income information, credit histories, payment habits even pertinent newspaper clippings. That information is sold to mass marketers and employers, who use it for everything from promotional mailings to screening job applicants. Medical - insurance records alsq are accessible, according to privacy experts. The BostonBoston - based Medical Information Bureau, an industry clearinghouse, gathers, processes and gives out information about the insurance policies of more than 12 million people. The bureau's records are used to compare medical records with information on new insurance applications to check their accuracy. Although bureau officials say they release information only to consumers and insurance companies, Goldman said, "They may say information is not given out, but there is no law that prohibits them from doing it." Another source of information about individuals is the registration card filled out by buyers of products such as appliances. They often ask for detailed information about the buyer's income, education and hobbies. That information is compiled by a Denver company called National Demographics and Lifestyle, which assembles consumer databases for manufacturers and provides tailored lists to direct marketers based on the more than 2b million names it has on file. In brief id t Congress S&L panel vows to cut out bailout favors WASHINGTON - House and Serrate conferees Jrowed Tuesday to take special - interest provisions out of the savings and loan bailout legislation, but were unable to agree on how. Lawmakers meeting on the first day of negotiations to produce a final version of President Bush's plan to clean up the S&L industry did agree on several less controversial provisions, including breaking up the Federal Home Loan Bank Board and toughening penalties for those who defraud financial institutions. But they agreed not to make any decisions until Thursday on amendments that lawmakers had slipped in during recent months to benefit a variety of corporations in their districts The provisions would benefit a host of major corporations, including Ford Motor Co., Citicorp", Sears, Roebuck & Co. and Merrill Lynch, providing them with advantages over their competitors in the financial services industry Court urged to block Tijne - Warner deal WILMINGTON, Del. A Chancery Court judge was urged Tuesday to block Time Inc.'s attempt to acquire Warner Communications Incand allow Time shareholders to vote on a hostile takeover bid by Paramount Commu - nil&ions Inc. In a hearing considered pivotal in the 5 - weSk - oId battle for Time, attorneys for Paramount maintained the media giant put itself uftHof sale when it agreed to a friendly merger wlgf Warner earlier this year, and as such should be forced to consider Paramount's hos - U1&12.2 billion bid. Ttme which has rejected Paramount's offer as inadequate and too conditional ar - gijeg that its board never contemplated selling thecompany and that the agreement with Wflfitier stemmed from the ordinary conduct of Time s business. Koch sells stocks linked to S. Africa NEW YORK - (AP)Mayor , Edward Koch, who said he didn't realize he owned stock in companies that do business in South Africa, unloaded seven Tuesday'. Koch, under pressure from political opponents, said he had kept his stocks in what is essentially! although not legally, a blind trust. koch He said his invest ment manager, Morris Offit, had erred in either buying or not divesting stocks that had interests in South Africa. He said Offit had used as a guide firms that adhered to the Sullivan Principles, under whfh they pledged not to discriminate in Wringer promoting people in South Africa. WK29 J - m m m 88&' wlfeW Ik Phone company offers voice mail service fiOSTON (AP) New England Telephone is readying a new answering service it The servicewhich is being tested and introduced by the African Telephone. & Telegraph Co. spinoff throughout the country, enables subscribers to usobnly their telephones to answer, record and hold their calls, with the telephone company storing all messages. Subscribers can leave recorded greetings on thecentral system and retrieve messages by punching into their touch - tone phone a seven digit phone number, followed by a personal code of between four and 10 digits. Because voice messaging can forward calls to be recorded - if a subscriber's line is busy, company officials say they expect the new service will eliminate the need for answering machines, which do not have that capability. Mine workers agree to resume talks CHARLESTON, W.Va. (AP) - The United Mine Workers' president said Tuesday he was willing to resume negotiations with The Pittston Coal Group, and a House subcommittee said it would investigate strikes that slashed U.S. coal production 35 percent. ' static nnlire were mobilized .in southern West Virginia, where vehicles were stoned and w urr fir(i at nnn - union mines. UMW President Richard Trumka said he was argentine Vireinla.Gov. Gerald Baliles" request that the union and Pittston resume ne gotiations aided by a federal mediator Bill Lewis plans to open this renovated barn as a farm market this fall. It's a major expansion for the LaGrange landscaper. Farm market really looks the part Waterbed deaths bring call for labels ALBANY (AP) Waterbeds should carry labels to warn parents of the danger of their infants suffocating if left unattended on the mattresses, consumer officials said Tuesday. Nearly three dozen babies or badly handicapped children have suffocated by lying face down on adult - sized waterbeds or getting their heads lodged between the mattress and frame, said Robert Abrams, New York state attorney general. Abrams, the Consumer Federation of America and the American Academy of Pediatrics joined to ask the federal Consumer Products Safety Commission Tuesday to require warning labels on waterbeds and in stores that sell them. "Ironically, most parents are of the mindset that if you put a child on a water - bed they couldn't be in a safer place," said Jack Gillis, spokesman for the Consumer Federation of America. But a spokesperson for the Waterbed Manufacturers Association said the water - filled mattresses are no more dangerous than other beds and that some waterbed makers already include warning labels. Waterbeds, which mold to the shape of bodies, are found in 15 percent of American households, Abrams said. Converts swear they're more comfortable than traditional inner spring or foam mattresses. But Abrams said he was moved to action when a nine - year - old Rochester - area girl suffocated last month. He said research showed 34 infants or handicapped children have died on waterbeds over seven years. Abrams suggested that waterbeds include the warning label, "Never put any baby to sleep or leave unattended on this waterbed." He said the warning should be included with printed instructions sent with the waterbed and posted in stores where they're sold. "We're obviously not suggesting a ban on waterbeds.. .just that parents be notified," Gillis said. By Kent Gibbons Journal beslacis writer MANCHESTER BRIDGE - Bill Lewis is spending more than $2 million to save both his landscaping business and a 19th - century Darn. In the process, he's launching a new business, Lewis Country Farms, at the corner of Overlook and DeGarmo roads in the Town of LaGrange. It will sell produce, lawn furniture and gifts along with the current Lewis fare of house plants, cut flowers, trees and garden supplies. Most of the barn renovation is done, though some additions are still under way. Blacktop for parking goes in next month, the stores will be stocked in September and the opening is planned for October, Lewis said. In some ways, Lewis Country Farms will resemble Adams Fairacre Farms, the larger, well - established market and garden center about a mile away on Route 44 in the Town of Poughkeepsie. And Lewis is borrowing some touches including mechanical farm animals that will form a three - piece band from Stew Leonard's. That Connecticut entrepreneur's farm markets were praised by Tom Peters in "In Search of Excellence." But Lewis's market will look quite different from those stores. inside the two - story barn, he has preserved the wood and fieldstone walls and the post - and - beam ceiling supports. Antique horse carriages line the hay lofts that are about 10 feet above the second floor. "The whole downstairs is going to be the farm market part, with the produce, grind - your - own coffee and home - made donuts," Lewis said, walking through the barn with his son, Tom. Milk and cheeses will be sold at a dairy deli section. Upstairs, there will be a gift shop, patio furniture displays and a florist shop. Behind the barn will be stacks of lime, gOUGHKEEPSlE . Jfl Adams f - Ti4) i' - Faliacrt Jy J xjAgiljs Future site of fyff Lewis Country r ." l M ! Farms Land - g Nf j I A scaping ; ft. l a ' a Old Manchester Rd. n1 I LAGRANGE Journal Jearme CimorelU gravel and other home landscaping materials. In a field next to the barn will be a six - acre tree nursery. The front will be like a barnyard, with a sheep pasture near the tables filled with perennial plants. "And we're keeping the silo, just for atmosphere." Lewis had been looking for someplace to move his Lewis Landscaping business from nearby Old Manchester Road, close tb the Manchester Bridge in the Town of Poughkeepsie. That property stands in the way of part of County Route 11, the proposed highway that would run along the former Maybrook rail line, Lewis said. "We had to find another spot, and we were looking around." He heard that the estate of Otto Frank, which owned the farm at Overlook and DeGarmo, had agreed to sell to a developer who would remove the bam and build houses. But the developer had trouble getting approvals from the town, Lewis said. So he bought the farm. "Boy, to destroy a building like that," Lewis said. "I like to save them rather than knoclcthem down." He and his wife, Linda, live in an 1840s farmhouse on nearby Sleight Plass Road. Behind their house they grow cut - your - own Christmas trees. Lewis also owns two other mid - 1800s farm buildings on Overlook Road and on Titusville and Phillips Road. Tom Lewis, 24, lives in the brick farmhouse next to the future Lewis Country Farms. That farm made history long before Bill Lewis was born. George Ayrault, who built the barn and brick farmhouse in the 1840s, advertised in 1870 that he had raised "The Four Best and Heaviest Steers ever Fattened." The four weighed between 3,300 and 3,440 pounds, according to Ayreault's advertisement. "One of his cows is stuffed at the Smithsonian Institute," Lewis said. Lewis said the farm center cost about $2 million to buy and remodel. Inventory will cost another $500,000, about half of which will come from the existing garden center. He figures to have sales of about $3.5 million the first year. Being so close to Adams won't hurt, he said. "You look at Burger King, they always build near McDonald's, and Macys is near Gimbels." When the store opens, about 45 people, mostly full - time, will be added to the 65 who work for Lewis now. About 30 have applied so far, and Lewis hasn't advertised the openings yet. The employees will be told the customer is always right, he said. "The old - fashioned, carry the bags out to the car kind of thing." Hundreds of homes are on the drawing board for the Overlook Road area, Lewis said. And Overlook forms a path between Route 44 and Route 55. "My feeling is, being here is like being on 44 or 55." The farm will draw the curious, Lewis figures. "If you have what the people want, they'll find you." Rumors swirl about Cray making mini - supercomputer By Steve Gross MlaatapoUe - SL Pail Star Irlbaaa Sources in the supercomputer industry say, Minneapolis - based Cray Research is poised to introduce a radical new product: a mini - supercomputer at about pne - tenth the cost of Cray's largest machines. A low - cost, low - maintenance, high - speed supercomputer would be a radical move because Cray Research has dominated - the world market by focusing exclusively' on the fastest, most expensive machines. But .word of a new downsized machine Is leaking out of the company through an informal network of supercomputer industry analysts and consultants. They said last week that changing mar ket conditions, plus the imminent departure of company founder Seymour Cray to a new spinoff company called Cray Computer, are causing the company to rethink its basic marketing strategy. Some observers believe the new supercomputer might be introduced in as little as three months. Cray had no comment. Peter Zidek, a consultant in Apple Valley, said several Cray Research customers are talking about the new supercomputer. Gary Smabya Minneapolis - based analyst' for Needham & Co. in New York, said, "There have been rumors for a long time, but they have" been getting hot In the - last three months." DuPont to add photomask plant DuPont, parent company of DuPont Semiconductor Products in Poughkeepsie, will build a plant in the Netherlands to make parts for the semiconductor industry, the firm announced Tuesday. ' The 40,000 - square - foot plant will manufacture photomasks, or parts with circuitry inscribed on them, and it will be located in Nijmege.n. Design of the plant will begin immediately. Officials expect construction to be done by the end of 1900. DuPont also agreed to acquire the assets of Philips International B.V.'s photomask plant in Nljmegen. Nancy De Jong of DuPont said the Netherlands plant will not affect Poughkeepsie operations. Trader tries to corner market on soybeans CHICAGO (AP) - The Chicago Board of ' Trade issued an emergency order Tuesday aimed at breaking up an attempted corner ' of the soybean market, described by one analyst as "the biggest market play since the Hunts'." The exchange's board of directors ordered all traders holding commitments to , buy or sell more than 3 million bushels of soybeans for delivery this month to reduce those positions by at least 20 percent each trading day through July 20, when the July contract expires. Analysts said the order would likely result in a sharp drop in the July contract's price at the opening of trading Wednesday. Board of Trade spokesmen would not identify the parties involved but confirmed that the emergency resolution was designed to avert the crisis that would occur if the supply of soybeans available for delivery was too small to satisfy the contracts. "I don't think they would have called it an emergency if that situation didn't already exist," said spokesman Mark ProuL The emergency resolution said no player may control more than 3 million bushels of July soybean at the close of trading next. Tuesday, and no player may. control more than 1 million bushels by the contract's expiration two days later. William Biedermanh, director of research with Allendale Inc., a Chicago - area futures brokerage, said the situation was rooted in a large foreign - based grain coni - pany's accumulation over the past lri years - of about 30 million bushels of spy - beans enough to control the market. "It's probably the biggest story since Bunker Hunt tried to squeeze silver," Bie: dermann said, referring to the alleged attempt by the Hunt brothers to control the world silver market several years ago. "It's the biggest market play since the Hunts'." t Futures are binding contracts to deliver or take delivery of I set amount of a com modity at an agreed - upon' price at a future date. I A typical corner occurs when a trader! holding a large number of contracts to, take delivery also owns so much of the commod - j ity that those on the other side cannot acquire enough to honor their delivery convj mitments. The artificial supply squeeze causes thej price of the - commodity to soar until th player working the corner sells out at a; - huge profit. ' - ' ' '" ' liyji'torifrt - jfl - BwriWl jjJgjwggjjgjgggjggjjggggjjgjg

Get access to Newspapers.com

  • The largest online newspaper archive
  • 22,600+ newspapers from the 1700s–2000s
  • Millions of additional pages added every month

Publisher Extra® Newspapers

  • Exclusive licensed content from premium publishers like the Poughkeepsie Journal
  • Archives through last month
  • Continually updated

Try it free